Transcription
I crossed $100 million in net worth by age 32. I sold my first big company for $46.2 million, and the reason we're able to do that is because we know how to grow companies. And so now I buy companies at a lower price, I grow them, and then we sell them. And so I want to talk to you about one of the companies we just bought. Uh, we bought them a year and a half ago, I think, or a year ago. Uh, they had 14 locations, so it was a chain of brick and mortar, and since then we've gone from 14 to 32 locations. And the reason we're able to do that is because we focused on the sales process, and through a process that I want to walk you through, something that I call the diagnostic sale, we're able to 10x the recurring revenue of the business across all the locations.
So before we get into the nitty-gritty of the story, let me just walk you through the steps in the diagnostic process. First, is we like to have some sort of pre-sale questionnaire, which the purpose of that is to get more information that arms the salesperson, so they know who they're talking to, what their pains are. But from the sales perspective for them, they also increase their awareness of the problem. Second, is we get their information and their credit card, which is key, and I'll explain why later. Third, is we want to understand what the current situation is—where are you at today? Then we have your desired state—so where would you like to be at? And then what's the obstacle—why aren't you there? And then finally, once we have these big three, we present the desired state and our vehicle to overcome the obstacle, and we tie our price to the way that we're going to get them there. And then finally, we give them an incentive to prepay.
So here's the five steps that we follow to actually get this done. So number one is that we secret-shopped the business, so we actually looked into it; we went there. By the way, you should secret shop your own business; highly recommend doing it. You'll be horrified by what you hear your sales guys say. You're like, "I thought we had a script; what are you even doing?" Number two is from there—this is basically information gathering—we figure out what the constraint is; okay, where do we think there's big opportunities in the business? Now you should think about yourself as your own business consultant. If you could buy your business today and look at your business, what would be the no-duh thing that you would do? Now for this particular business, we thought that they had an offer constraint, which really came down to packaging. We had offer/SL packaging because fundamentally we're not going to change the core of the business; we're not going to all of a sudden start selling soap when you sell HVAC—like that's not going to happen, right? So the core of the business can remain unchanged; it's how we're going to package the services we deliver, or that the services we sell to a customer; how are we going to get them to perceive what we're selling? We gathered the data; we figured out the constraint was that they should get way more re-bookings, which I thought was an offer and packaging issue, which is we need to sell the solution, sell the goal.
And so number four is, okay, if we assume that we're going to make this new transition into this new, new offer, new packaging, we have to anticipate—so we call it killing zombies—uh, which is one way of putting it. You anticipate the obstacles or objections that people are going to throw at you ahead of time. Write this in neon marker above your sales team, which is: it's way harder to get someone to buy after you presented the price, because now they're like, "He's trying to sell me." So we have to counter that before we become salespeople in their mind. We are a trusted expert, ideally, if we're positioned well, and you should be that way if you know what you're talking about. And I like to use the frame of childlike curiosity. I always tilt my head; I probably even did it subconsciously just now. You tilt your head when you ask the question because it's non-threatening. You're like, "Huh, that's weird; what changed between then and now, just so I understand?" Then they can tell you, rather than be like, "You said that your husband says he supports you; you can't say that now; you have to buy." Doesn't work that way. If you win the argument in a sale, you lose the sale. The only way that you win the sale is being willing to lose, being right.
And so the fifth step, and this is the ongoing step, is that you implement the diagnostic sales process, so it's implementation. So now that I just outlined the five steps, let me deep dive into the implementation into the actual business and how we did this with this particular business. When we bought them, I spent four hours with our director of sales, and we outlined the new sales process we wanted to implement. And as soon as we implemented that sales process, we 4X LTV progresser, meaning how much people paid us; it went from $200 to $800—so really big jump. And we—the crazy thing about this is that we didn't change what we delivered; we only changed how we presented it. And so this is the key of how we create value, how we scale companies, how we grow companies. And many companies keep these things as secrets, uh, as their special sauce, and I just fundamentally believe that the more we put out, the more we get back, and say that's why I operate this way. All right, so I will hold nothing back, and this is something I call the diagnostic sales process.
Now to be very clear, the diagnostic sales process is one of two, two different sales, or maybe three different sales processes, big picture that you can have in a business. One is a transactional sale, all the way on this extreme. So on one side you've got transactional sales, and on this side you've got Enterprise sales, which is like, uh, relational sales. Like if you think about like you're selling some big Fortune 500 company, you have to get stakeholders involved, get budget approval; there's all that stuff. And on the transactional side, you've got like High Velocity sales; we're talking 20–30 minute sales. A guy who stands in front of the car wash sells car washes; somebody sells gym memberships—transactional. And then you've kind of got like this middle where you might sell something that's a little bit higher ticket, but it's a little bit more custom. All right. Now what we did was I took their sale from here, a purely transactional sale, and moved it towards custom. All right. Now in a transactional sale, you typically fit the customer to the product. And so let's say that I sell pens, all right? So I sell pens. If somebody comes in, I'm going to basically spend all my effort listening to what they say they want and then telling them how this pen fits their needs, or I have to basically say, "Your needs are wrong; let me educate you more, and this actually solves all your problems," right? And so those are pretty much the only two approaches you can take in a transactional sale. Now the advantages of having this type of sale is that it's really fast, uh, they tend to be lower ticket in general, uh, and from an operational perspective in the business, you don't need to personalize anything. And so you get the sales team and the sales process to basically orient everyone like a funnel down to one solution, and then you just make a ton of these solutions, and you get lots of efficiencies because you only have to produce one thing. This—the custom sale—is a harder sale—sorry, easier sale to do, but harder on the operational side. And so the magic happens when you can actually bridge the product component of transactional, which you say, "Okay, we only sell these types of widgets; this is the only thing we deliver, but I can do it in a way that feels custom, feels personalized." All right, so I'm going to give you two examples, and I'll explain this one in a second, this chart that I have here, which if you could take your recurring revenue from that to that just by changing how you sell, if you'd want to do that, hang tight; we're going to break that in the process.
So if I had—because I did this in the gym, in the gym world too, which is part of why our gyms make more money—so a traditional sale would look something like this: someone comes in, so this is traditional, and you say, "We have a membership that's, you know, whatever $99 per month," all right? That's your membership, and you say, "Our membership has this, this, this, and this, and you want that, right? Because it's going to help you accomplish all your dreams." Okay, sometimes you get people, sometimes you don't. What I do—we do something called a diagnostic. And so the first thing is that when the person walks in the door, we get them to fill out a pre-sale questionnaire. And so that's like an application in a digital process, but an in-person process; it follows the same logic, which, by the way, internet businesses follow; local businesses—local businesses can also model internet businesses. When you find out something works in one place—which I think has been one of the big advantages I've had in business—is I try and put it in a completely different place, and it often works too, if you understand the concept. And so we fill out a pre-sale questionnaire. Now the pre-sale questionnaire simply walks them through all the reasons they walked in today, and it asks them the same question in multiple different ways. So it's like, "Hey, like what brought you in today? What's the current problem you're dealing with? How long have you been dealing with it? If you had to quantify how much this has cost you financially, what would it be? Uh, if it continued for five years, how much worse would the situation be?" And so the whole point is we're trying to agitate—tame—we're trying to bring attention to this problem and elevate its importance. So that's what the pre-sale questionnaire does.
Now the second thing is we get info, and this is very key. So when someone comes in after that, we say, "Hey, I want to, I want to set up your account profile." And so when you do that, you collect their information, and this is the key part: you get their credit card. Now you're like, "Wait a second; I'm getting a credit card, but I haven't sold anything." Exactly, and you do that so that when you do sell something later, you don't have to ask for it. Now you get the pre-sale; they're like, "Wow, I really do need this thing." You say, "Hey, let me complete your customer profile; just standard procedure, no big deal." All right? Then you get their info. Now if they're like, "Well, I don't want to give you my credit card," you're just like, "It's just how the system works; it's how we complete profiles," and then they'll give it to you. All right? So from there, this is the, this is where the special, the special magic that's unique to each individual business happens. So in the weight loss business, I want to understand where their goal's at. So you say, "What's current?" and then, "What's desired?" Where are you now? Where would you like to be? And then this one you ask them—say, "What's the obstacle? What's in between these two things? Is the obstacle," right? Current, I've got an obstacle getting in the way of, I desired. That's all we're asking in the process. Now in weight loss, and in most businesses, the thing the person thinks is in the way is often not the real thing in the way, and that's because they've never had this conversation before; they clearly haven't solved the solution, and that's why they're coming to you. And so you want to just get their words more so so that you can explain it back to them using the language they gave you. All right? And so in the weight loss world, for example, instead of selling a membership, I would say, "Okay, well it sounds like you need these three things: Fitness, Nutrition, accountability. Fitness-wise, you need to work out X days a week; nutrition-wise, you need to eat this food at this time, and we can help you meal prep the stuff, so you got—when you go to restaurants, you can still stick on it. And you need accountability, because if you don't—if you do—if—if I give you the best fitness plan and the best nutrition plan, but you don't show up, doesn't matter, right? Accountability is what makes the whole thing work." Great. Finished. Nutrition, accountability. Easy three-step framework. Fantastic.
Now this is where it becomes diagnostic. Now most customers—and this is why this is where the magic happens—is that even if you still deliver the same thing, so fundamentally when I switch the sales process, the gyms remain the same; they still have workouts; they still have nutrition help; they still have accountability; nothing changed, but how we present it changes. And so rather than saying, "Hey, I'm going to sell a four-week thing or a six-week thing," I say, "Hey, you're currently 200 lb. Okay, now what's your high school weight?" She says, "I want to, I want to get to 140." You say, "Okay, cool; you want to get to 140; this is your desired." Okay, so we have a 60-pound difference. Now what we found is that we don't want people to lose more than a pound and a half to two pounds a week. All right, so let's just be conservative and call it one and a half. So then I take out my calculator, and I say, "What's 1 and a half times 60," which would be—the other way around—it'd be 60 divided by 1 and a half, which is 45. Okay, so 45 weeks is how long it's going to take us to take you from 200 to 140. So you lose a pound and a half a week; it's going to take 45 weeks. And so six—present price in relation to goal. So you say, "Awesome. So we currently charge 99 bucks a week; we can get you there in 45 weeks, which means it's $4,500, and that means—and for us, I added a, a guarantee on the back end, which, which said, 'Hey, if you show up to the workouts for the next 45 weeks and you log your food and you don't lose the weight, I'll keep working with you for free until you do.'" So that means this is the translation; this is the key part in the script. So that means when you pay this $4,500, it means that you can count that weight loss for good; you can put it out of your mind; you pay me this money; we're going to get there one way or another, as long as you follow the steps. You're going to follow the steps, right? Great. And so here you're trying to sell 99 bucks a month, or, or whatever—this would be 99 bucks a week if, if I was doing equivalent pricing. All right? So this would be like a semi-private program, but by positioning it this way, I'm not selling a membership anymore; I'm selling exactly what they want and putting a price tag on it and saying, "You want to get to 140; it's going to take this long, and I'll guarantee that you that you'll get there, provided you follow these steps." And then they say, "Wow, that's awesome." You say, "Well, if you want, I can save you a little bit of money." "You want to save a little bit of money?" And they're like, "Yeah, I want to save a little bit of money." "Well, if you prepay, you can save 10% today, so I can save you 450 bucks." "You want to do that?" That's what most people do. Great. You want to, you want to use the card you have on file? Done. So that's, that's the process.
Now I took this process and applied it to a completely different service business that we own, that's a chain; this is a little bit more medical, but the concept still applied, which is—and this is the key part—is you have to figure out, for whatever it is that you sell, what the current is versus what the desired is. So if I were, uh, a painter, all right, and I was painting houses—sounds crazy, right?—say, "Hey, so you currently have this thing; you want a completely painted house." And so the—like now for them, this is like more us do it for you rather than, uh, self-service—like I'm going to have to—like they—you're not painting your house and them helping you; so they're actually going to paint the house. So then we just try and think, "How can we, how can we, how can we sell to goal and break it into a price that we tie to that?" And so it'd be like, "Okay, so we're going to need four coats of paint, and it's going to take this period of time, and then at that point your, your whole house is going to be weatherproofed. And so that means that when you pay this price, that's what you're going to get by this date, and if we don't get it done by that date, I'm going to give you this." And that way we can relieve their risk that it's not going to happen, and we tie the purchase to the outcome. So this particular business, when I bought it, or bought into it, um, it was a business that they had really good lead gen, and they have a good product, but they didn't have good packaging, and I saw the opportunity because I knew that if I installed my sales process into their business, I could make it make a lot more money. And so if you have the opportunity to, like, 4X a business without opening new locations, you do that. And so that's more or less what we did. So I actually wrote down the new sales process—took me four hours—so I wrote down the new sales process, and then I presented to the management team, and they were like, "Wow, this is the most valuable thing we've ever had happen to our business." And I said, "Great, so let me know when you do it across all the locations, and let's keep buying and opening new ones." And so 18 months later, we have 32 locations, and the recurring revenue in that time period has gone up, and the average revenue per customer went from $200 to $800 from this one process. And that was because before this they were selling one-off transactions; they were saying, "Hey, we'll do this service for you," so think of it like Botox, or we're going to do filler, or we're going to do something this one time. And so rather than just say, "Sure, give us a call when you want it again," which is pretty much what the process was before this, I say, "Hey, you want to look a certain way; you're not here because you want filler; you're here because you want to look a certain way." So if I show this chart to you of faces and filler densities, where, where do you see yourself on here currently? Now you let them self-identify; you can't be like, "Look, Pi, you're ugly," you can't say that. So you got to say, "Where are you on this chart?" And then they say this. Now in the weight loss sale, I got them to step on the scale; the scale called you fat, not me. All right? So maybe just point to the third party, not me. So, so, so you get them to pick how ugly they are, all right? And then you say, "How pretty do you want to be?" Now everyone's going to say, "I want to be super pretty," but here's the beautiful thing: when they pick how pretty they want to be, they're the one who set the goal, and that means that the price came from them. And you know where I picked this up was yogurt stores. So one of the things I thought was genius about, like, Yogurt Land and things like that was, if, if you go to a store and then they fill up your stuff behind the counter and then they say, "Hey, it's 8 bucks," you're like, "Man, what the hell? This place is so expensive." But if they give you the cup and you fill it up and you put it on the scale, you're like, "Man, I'm a fat ass." Same pricing, but because I had control over what I picked, I'm the one who's responsible for the decision. And so by saying, "Where are you on this chart?" And again, this is where the magic happens. I say, "Current, desired." That's where the thinking behind how I'm going to structure a sale is where—like that's where the, that's where the experience, that's where the expertise, that's where it comes in. This is the process, and hopefully you guys can take this for your business and think like, "Okay, what's current? What do they really want? They're not buying lip filler; they're not buying a painted house; they're buying an image in their mind of what they want that house to—"
Signify, or what it means to them. And this lady is not buying filler; she's trying to buy a certain look. She wants people to think about her a certain way. She wants, when people walk—when she walks in the room—she wants guys to turn their heads. Though, because she's probably getting a little older, they're not turning their heads as much, and she still misses that, and she'd pay anything to get that.
So say you're ugly now; how pretty do you want to be? We say, "Cool." So for us to get you from here to here, it's going to take us 45 weeks. It's going to take us Botox, filler, and you know, plastic surgery—whatever. We're going to have to hit you with a pretty shovel and bring you back to life, all right? We're going to have to do this, and it's going to take this many weeks for us to reverse this level of aging, or at least take these crow's feet out, or whatever it is. And so we tie where you're at to where you want to go, and then our solution is only the vehicle that delivers this outcome. And so that is the moment that you present the price, because they picked where they were, where they want to go, and then you, as the expert, explain the path to getting there. So they picked the before and after, and you just use your expertise of, "This is what we found best to get people to here."
Who start where you're at? And so we found out that this opportunity existed within this particular business because I had my sales director secret shop them. So mind you, this is a brick-and-mortar chain; we have a lot of locations, so we could sneak our way in. It's harder if you have, like, a, you know, four sales guys who do all the sales; they'll just tell the owner right. So we wanted a secret shop before we actually completed the investment. And so, uh, when he went in, he was—I asked him, so I went through this checklist. I was like, "Okay, so did they give you some sort of pre-sale question?" He was like, "No." I was like, "Okay, great." I like, "Did you—did they ask you for your credit card, or did they ask you for your information or anything before you got the service?" He was like, "No." And I was like, "Fantastic." What else? What else did they do? It's like, "Did they have you set—you know, pick uh, where you're at and where—what your goal is?" He said, "Yeah, they did have me uh, pick where I was at, but not where I wanted to go." So they just had him pick, "Okay, how ugly are you?" And he was like, "Okay." Now, again, not completely flawed; I want to be really clear here, like this is a—at 14 locations, they're not—they're not idiots. They had the pain; we agitated the pain. They said, "Listen, this is how ugly you are on this scale that we invented, and you're here; you're a seven—ugly, great." So he checked this, but he didn't get to say where he wanted to be. So then from there, he just went right into the service, and then when he came out, he just gave them the card to pay for the service, and that was it, and he just walked out the door. And I was like, "Wait, so they didn't—they didn't actually like ask you to buy a package or get into some membership or anything?" And he was like, "Well, they tried to upsell me this one product at one point, but this was the price point," and the price point was like 20 bucks or something. And I knew what the average customer is worth, which was like 200 at the time. I was like, "This—like, by the way, if you're going to do upsells, you want the price point to usually be—usually be five times more than the current price, because if you get 20% of people—" So customers are fractal, so we're going to go into a little side quest here, but it'll be worth it for you since we're talking about sales. So you've heard of 80/20, right? So you've got 100 people, right? The top 20%, you've got the 80 underneath, right? These are the people—80/20 have five times the spending power of these people. And so because of that, if you get 20% of people to buy something that's five times as expensive—so let's say my current thing is $1,000—if I'm going to have an upsell, I want my upsell to be $5,000, because if 20% take it, then it's 20% times 5,000, which means I add $1,000 to my average ticket. So I go from $2,000, or sorry, $1,000 per customer to $2,000 per customer. And so when I heard that their upsell was 10%, it'd be like having it—be like my upsell is 100 bucks. Okay, fine; maybe 20% take that, so I—I go from a $1,000 to $1,200—who cares? Like, what's—like, why bother, right? And fundamentally, again, smart business owners, and they were upselling product, which means there's no real delivery in a brick-and-mortar service business, so they could just hand the product, make the money, and I think they were using it more for commissions for their staff to increase the average pay, which is a different objective entirely and totally fine, but I was only looking at this from, "How do I take customers who are worth $200 and make them—my goal is to get them worth $1,000." Currently it's $800; I'm going to keep getting there until we get to $1,000, but I think that we can get it to $1,000. And so we secret shop them, number one, which, by the way, if you have a team of people who are currently selling your stuff, secret shop them, and then be horrified by what you listen to on the phone or what you see in person, because you have this beautiful idea of what you think your sales process is, and it's a nightmare—it's an absolute nightmare. If they remember half of it, you'll be stoked. And so if you run an environment, especially in a—in a lower-wage environment—so if you're brick and mortar, you have a chain of—of locations, and you have to take low-skill labor and teach them a sales process, you've—like, the—the expertise in sales comes down to how easy and simple you can make the process. And so that comes down to, like, "Can I automate parts of the—uh, the point of sale so that they can't move forward without doing this checkbox, right?" And by doing this checkbox, they have to ask the question, so it forces script adherence. Now, training sales is not in this video, but you want to basically repeat the process over and over and over again until they're sick of it, until they say like, "Yes, Mom, would you like to have—do you have your credit—you want to use the credit card on file?" Like, until they're saying it like they can—they can breathe it; they can think—they can say without thinking about it. That's when you've maybe just started to have a—a team that's—that's well-trained.
Now that we finished these seven uh, pieces of the diagnostic, I want to add one more bonus because you're like, "Wait a second, so where's the—where's the recurring revenue?" Great observation, Andrew. Okay, so—so number eight is transition to recurring, all right? I remember this; I'll give you two separate stories that'll drive this home. So a friend of mine has uh, a—a recurring membership that he sells, and he sells it at uh, I think he sells at 300 bucks a month, and he couldn't get people stick past three months. And so he tried all these different gimmicks and things, and he just couldn't crack three months of LTV. Now that could have been a pricing issue, whatever. So this is what he did: he stopped selling it at $300 a month—month to month—and started selling as a $110,000 program with 36 months of interest refinancing. And so when people bought, they were buying a $10,000 price point, but they got an amazing—amazing payment plan. And so he didn't change anything about what he sold, but that took his average customer from three months to eight months. So we're talking about a $900—so 3 * 300 to 8 * 300—$2,400—that kind of change in a business—life-changing in terms of how much money you can make. The second one was I had a different friend who had a continuity program; uh, he was an uh, agency, and what he did was he realized he had churn in his business. And so he said, "You know, people are way less likely to churn out of a payment plan—same as is the other one—than they are out of a monthly recurring revenue stream." And so what you call it to the customer can affect the likelihood that they pay, but as far as the business is concerned, you just want payments that are regular. And all you do to take a program and take it from rec—from a payment plan to recurring in terms of how it actually looks and feels is you just put an automatic recurring at the end of the program. And so when someone buys this big thing and you make a payment plan, and then it recurs into the exact same price as the payment plan, you just move the pieces around, but the likely they stick is way higher. And so that's exactly what we did as the last step in the diagnostic sales process. And I wanted to highlight this point for you because I've done it in every business. And so we give someone the option to prepay; you can give—if you want a little bit more aggressive, you get 20% off if they prepaid today. If you want to have one step down below that, which is what I like to do, you give them 10% off if they do half down and they make the rest as payments. And if they still can't do that, then I take the whole thing, and I spread it over, let's say, 45 weeks. And so I'd say, "Okay, it's 99 bucks a week; 99 a week," and there you go. Now they go from 99 a week to 80 bucks a week if they prepay the whole thing, and they go from 99 bucks a week to 90 a week if they prepay half. And here's the key part is that when we present the price, you present it at the highest rate; so you present it at the payment plan. Let me walk—I'll walk you through this because I think it's important. Well, I'm going to put it here and so I don't have to flip screens for you. All right, so you have your full boat—I'll say full interest price—so for us in our example is 4,500 bucks, all right? 45 weeks times 99, roughly, all right? So this is our full boat price. We have our prepayment discount in full, which is minus 20%, all right? So for us it's going to be minus—what is that? 900? Yeah, 900 from there, so that's 3,600. Sorry, other way—uh, 3,600. If they do half down, you say, "I—I'll let you save uh, 450 bucks," so 10%, so 4,050. Z, all right? So this is 10%—minus 10%. That's—20%. Now the reason this is so important is think about the alternative; think about—and this is what most people do—so listen to me, Andrew; most people do this: they present the price as $3,600, and then they say, "Oh, well, we have payment plans that we have interest on, and so we do—we do have 10% interest if you can put half down, and we have 20% interest if you put uh, nothing down, and you just go onto a straight payment plan." Well, which one would you rather buy? If on one hand you have a $4,500 price tag which anchors you high, and you say, "Or you can get a benefit for prepaying today," rather than you think about 3,600, you're considering it, and then they say, "Oh, it's even more"—even though you're just considering this tag—guess what? You have to pay way more now because you can't afford it; you have to pay more. Banks do it all the time, and guess what? Everyone hates banks. So if banks want to fix their process, Mr. Bank, maybe this will work; who knows? Anyway, point is is that this is how you present the price because you get the benefit of a price anchor, and you get to be the good guy for getting them to pay upfront rather than the bad guy for them not being able to. So we're going to—we're going to go through step eight in uh, in the more transition uh, process for the sale, and so I want to just walk you through step-downs. And so this is super important to understand from a sales perspective. So we'll call this sales step-downs, and uh, this is, by the way, a preview for my next book coming out—$100 million. Yeah. Anyways. So—so sales step-downs is one of the things that we have. So obviously the first thing we're going to present is a prepayment, all right? Which is pay in full today. Prepaid—by the way, you've probably noticed from any of my content, I don't say "paid in full," and that's because that's a—that's a salesman term, not a customer benefit. If you prepay, you get a benefit, whereas "paid in full" is like, "I got all the cash to front—good for me." And so I have trained myself, because I used to say "paid in full," "pifs," "p—you know, whatevers," "pifs"—like all of that stuff I used to do as a sales team—sales leader. And then I also heard my team saying that to customers, be like, "Hey, if you want to pay in full today"—like it's just like kind of gross. And so I prefer to say like, "Hey, we have a prepayment discount." And so training that—just little pro tip for you. So number one is prepay; number two is we do discount uh, with partial. So this is—this is the half down—oops—half down here. You can also do in-house—well, this is whatever—sorry—this is credit card or third party. So if you have—like most—most businesses that sell legitimate services have third-party financing solutions that already exist. And so I promise you there is a banker somewhere who started a business to service this emerging market of whatever it is that you do who says, "I'll bet you I can help finance transactions." Now the prices they charge for that financing will differ based on how risky your business is. And so like, there's financing for casinos—like if you want to get—if you want to get a loan to go gamble more—like there's financing for that, but they will charge you a lot of money, right? And so like that being the extreme, on the other hand, if you want to finance a house, there's obviously a huge mortgage industry. And so from every step in between, there are partners who will step in as third party and take on that risk for you for a price. And so I prefer, "Can I get the prepayment because it's easiest and fastest?" If not, usually have a third party that I set up so that my customers can get financing. If we don't move past either of these two things, then I try to go with a partial with some level of discount—not as much as here, but a little bit. And if they still say no, then I go for continuity, which is, "Why don't we just make a payment plan on the thing?" And in this particular business, because what they were doing before was simply rebooking people for another session of service, we just had this be the automatic—like everyone gets rebooked. And that became—that became an internal saying—like I like having mantras uh, within sales teams—which is like, "Everyone buys something"—like everyone buys something; there's no reason someone should not buy something. And so sure, we'll get them a prepay; maybe a partial—okay, fine; we'll do a payment plan—that's whatever—call it, you know, 250 uh, times four—great; that's our $1,000—that's our $1,000 plan that we're getting people to buy, and you pay 250 today and then three more times, and you can do it every other month if it's a more uh, intermittent service—whatever—just match the payments to when they get delivery. And then finally, if they're like, "Well, I can't do any of those things," it's like, "Cool; let's just—let's just book the next time you want to come in"—that's it. And so this is the final of the process in terms of—in terms of the step-downs that we might offer someone. We just walk through this whole process, and you're like, "Wow, maybe that's a lot of work; I have to use my brain power," but welcome to business. But let me tell you why it's worth it. So these are the actual stats, and I put the numbers without the names to keep it nice and open loop for you. So number one is that they had 9% of revenue uh, that was recurring within this product line, all right? So they had 9% that was recurring. After we implemented this process, 60%—they took this 9% to 60% of this product line within the company—so awesome. Number two, they had basically no membership at all, because they just weren't—it wasn't even an option—not really—and we were able to push that to 30—that's a 30—30% into memberships. This included payment plans; this is just memberships. And then we went from getting one additional extra visit on average per person—meaning two—to getting four to six visits per customer by introducing this sales process. And from a money perspective, we went from $220,000 when we uh, bought the business—so mind you, this business made a lot more money than this single product line or this service line, but this is where I wanted to invest my time because I thought there was a huge opportunity here because I saw from the secret shopper—from the constraints—I thought this was a big area of attack. And so they're only 20,000 a month—which, for a business this size, is not a lot—and then however many—however we—dots this later—over 250,000 per month in added revenue, and it continues to grow, and this compounds, and that's the—that's the beauty of this type of sales process and repackaging of what someone already sells. And so we went from 9 to 60, 0 to 30% on memberships, from one visit to four to six visits, and from 20 to 250,000. So we more than 10x the recurring revenue of this business by following a diagnostic process rather than just selling some traditional one-off thing. I have two books on Amazon: "$100 Million Offers," "$100 Million Leads"—you can go check them out uh, if you have—are completely poor; uh, my podcast has them for free, too—you can check those out; it's all free—enjoy.